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September 27, 2021

McKinsey and LeanIn.org’s Women in the Workplace Report is OUT!

It’s here!!!

For those of you who were with us this time last year, you already know I NERD OUT this time every year. For the ~1,000 women who have joined us since, let me explain….

The McKinsey and LeanIn.org report is out. Today. (You can read the full report here).

Every year since 2016, these two organizations have teamed up to do the largest study of working women in America. This research covers over 400 organizations and surveys from more than 65,000 women.  It’s America’s Report card on Women.

Here are the highlights:

  1. Women are making gains!!!

Representation of women has risen across all levels of organizations. YAY!

2. But there’s still quite a gap to close, especially for women of color

White men represent 35% of entry level roles, but 62% of the C-suite – almost double.

Men of color represent 17% of entry level roles and 13% of the C-suite.

White women represent 30% of entry level roles, and 20% of the C-suite.

Women of color represent 17% of entry level roles and only 4% of the C-suite.

3. And women, overall, are stressed, tired, and burnt out.

One in three women say they are considering leaving the workforce or down-shifting. This is up from one in four last year. And 40% are considering leaving their current employer, potentially throwing companies into a talent tailspin.

What does this mean for you?

  1. Now is the time to negotiate.

If you are already, or are starting to get tired, negotiate a break now.  Maybe it’s changing your hours, maybe it’s as simple as using your vacation days.  But take care of you. 

If you AREN’T getting rundown, now is a great time to take on high-profile assignments, negotiate a promotion, or ask your company for additional education.  Given the job market, your company likely has more work than folks, so the timing is good to push the gas if you have the energy.

If you want advice on what you can negotiate for, or how to ask, you can take our free online course on negotiating as a woman here.

2. Companies can benefit from training their female employees to negotiate.

According to this study, 40% of women are considering leaving their current employer. In talking with HR professionals, I have learned that most of these women leave without asking for what they would need to stay. It costs employers up to twice as much to replace an employee than to retain them, so chances are companies would prefer that women ask for what they need to thrive before they leave. Companies who train their female employees to negotiate specifically as women will have more women asking for what they need before deciding to leave. That is likely better for the employee, and definitely better for the employer. 

We just finished piloting a new corporate training program with great results; if your company is interested, they can email me at kathryn@worthmorenegotiations.com.

3. Allyship – help?!

As a white woman, I want to be a better ally, but I don’t know how. It’s not from lack of effort, but I seem to find competing advice. What I don’t want to do is mess this up because it’s important. If anyone has good allyship resources, please share them with our community by leaving them in a comment below.

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